This article describes the classic vendor form. Vendor records now open in the Vendor form, which reorganizes this information into dedicated sections.
The classic view described here remains available from the Vendor form's quick actions menu using Switch to classic view.
Setting the priority status of AP invoices can help determine what should be paid first on a payment run.
The 'Invoice Priority' selector on the payment run screen filters AP invoices by priority status, making the payment process more efficient for accounting. This process can help maximize cash flow.
Priority status can be set on individual invoices, or automatically by selecting a default Vendor priority.
Vendor Record
On the Vendor Additional Info tab of the desired vendor record, navigate to the 'Vendor Priority' selector to choose the necessary priority status of paying this vendor. Priority statuses include:
High
Standard
Low
Selecting and saving a priority status for a specific vendor will cause the priority status of an AP invoice to auto-populate to this status when the vendor is chosen. The vendor priority will also follow the vendor on a duplicated or memorized transaction.
Enable Default Priority Status By Vendor
Selecting and saving a priority status for a specific vendor will cause the priority status of an AP invoice to auto-populate to this status when the vendor is chosen. The vendor priority will also follow the vendor on a duplicated or memorized transaction.
Follow the steps below to set a vendor’s priority:
Click steps to expand for additional information and images.
1) Navigate to the Vendors page and double click the vendor to open the vendor form.
2) Scroll to the Payment & accounting section and set the Vendor priority.
Priority statuses include:
Low
Standard
High
3) Save the changes to the vendor form.
If any other required fields are incomplete, the vendor form will automatically scroll to the first field to be completed.
AP Invoice Form
If a selected vendor has a priority status assigned to its record, the 'Priority' field on the AP invoice form will be updated to that status. However, this field can be manually updated to one of the following statuses:
Critical
High
Standard
Low
Once saved and approved, this status will be displayed with the Invoice on the Payment Run screen.
Payment Run Screen
On a payment run, the 'Invoice Priority' selector allows AP invoices to be filtered by priority status, making the payment process more efficient for your Accounting Clerks.